The sneaky cut to Tax Credits for the disabled – Telling It As It Is
A disabled person working 16hours a week and earning £8 per hour by my calculations will be £24 a week worse off.
Tax Credits are not easy to calculate and most people will check to see that the information they have sent in is correct and the Tax Credit Office will calculate the rest. A main factor in calculating Tax Credits is the level of money that can be earned before being reductions are made.
From April 2016, the level at which a household’s tax credits are withdrawn for every extra pound earned will be reduced from £6,420 to £3,850.
The Taper which reduces amount of Tax Credits by 41pence for every £1 of income above a certain level) is increasing to 48%
Tories never surprise us with their avaricious greed & meanness. Why do they have such a hatred for ordinary working people. Especially our poorest, disabled & most vulnerable folk in society. It’s quite sickening, those who cannot help themselves are being trampled all over by this unprincipled, cowardly chancellor.
This is fascism, don’t mistake it or underestimate it. That’s exactly what it is. Cuts to the working wage to pay for tax cuts for big business and elites, a new proletariat being created, living solely to work. The withdrawal of the social safety net, the demonisation of minorities and the persecution of the vulnerable to enrich the top tier of society.
Its an EU project, so its essential we get the hell out while we have a country to save
An EU project? From where did you pull that?
It’s a Tory project.
Other politicians within the EU (and elsewhere in the world) may be carrying out a similar programme, but that doesn’t mean the EU is behind it.
Tweeted @melissacade68
From April 2016, the level at which a household’s tax credits are withdrawn for every extra pound earned will be reduced from £6,420 to £3,850.
So to illustrate that, if someone earned £10,000, the threshold of £6420 is deducted leaving an income over the threshold of £3580, the current % decrease rate for income over the threshold is 41% so £3580 x 41% = £1467.80 (say £1468 rounded up)
The Working Tax Credit (WTC) award elements are currently made up as follows;
Basic = £1920
Couple/Lone parent = £1950
30 hour element = £790 (only applicable to those working 30 hours or more a week)
Total = £4660
So, £4660 (full WTC)
less excess over income threshold less taper £1468
= £3192 (4660 – 1468) divided by 52 (weeks in the year) = £61.00 per week
Now, look at the same amount earned after the changes (assuming the award elements remain at the same level);
£10,000 pay less threshold of £3850 = £6150 x 48% (new taper amount) = £2952
Total WTC = 4660 less excess of 2952 = 1708 divided by 52 weeks = £32.84 a week!
That is a weekly reduction of £28.15 or £1463.80 a year.
EVEN DICK TURPIN HAD THE DECENCY TO WEAR A MASK WHEN HE WAS ROBBING YOU!
It is a Purely Tory Policy !
Where can you get a job if you’re vastly overqualified 59 and bipolar?
Or vastly under qualified and bi-polar and 59 like me !?